The basic answer: age requirements depend on the account type

You can open a bank account at any age, but the rules change based on whether you're a minor or an adult. A minor — anyone under 18 in most states — can have a bank account, but it must be a custodial account or joint account with a parent or guardian. Once you turn 18, you can open an account entirely in your own name.

The reason for this rule is straightforward: banks need someone legally responsible for the account. Until you reach the age of majority (18 in most states, 19 in Alabama and Nebraska, 21 in Mississippi), the law says you cannot sign binding contracts on your own — and a bank account is a contract between you and the bank.

Key Takeaways

  • Minors can have bank accounts, but a parent or guardian must be the account owner or co-owner until the child turns 18.
  • A custodial account is owned by the parent but managed for the child's benefit, while a joint account has both names on it with equal access.
  • At 18 (or 19–21 depending on your state), you can open your own account without a parent's involvement.
  • Some banks have minimum age requirements even for custodial accounts, often starting at age 13 or younger, so policies vary by institution.

Custodial accounts: the parent owns it, the child uses it

A custodial account is registered in the parent's or guardian's name, but it is set up specifically for the minor's benefit. The adult is the legal owner and can see all transactions, but the account is meant to teach the child about banking and saving.

The parent can give the child a debit card to use the account, set spending limits, and monitor where the money goes. When the child turns 18, the account automatically transfers to their name, or the parent can help them open a separate account at that time. Some banks call this a "teen account" or "youth account" — the name varies, but the structure is the same.

Joint accounts: both names on the account from the start

A joint account has both the parent and the child listed as owners. Both can deposit and withdraw money, and both can see the account activity. This is simpler than a custodial account in some ways because there is no automatic transfer at age 18 — you straightforward continue using the account as you always have.

The downside is that a joint account gives the child full legal access to the money, which means they can withdraw it all without the parent's permission. Some families use joint accounts intentionally for this reason — to teach responsibility — while others prefer custodial accounts for more control.

What happens when you turn 18

At 18, you can walk into a bank and open an account in your own name without a parent present. You will need a government-issued photo ID (a driver's license or state ID card) and proof of address, usually a utility bill or lease with your name on it. Some banks also ask for a Social Security number.

If you already have a custodial account, you do not have to close it or move the money. You can keep it as is, or you can open a new account and transfer the balance. If you have a joint account with a parent, you can ask the bank to remove your parent's name and make it yours alone, though some banks require the parent to be present for this change.

Age requirements vary by bank

While 18 is the legal age of majority in most states, individual banks set their own policies for when minors can open accounts. Some banks allow custodial accounts for children as young as age 13, while others start at age 16 or have no minimum age at all — meaning a parent can open an account for an infant.

Check with your specific bank about their age policy. You can call the bank's customer service line, visit a branch in person, or look at their website under "teen accounts" or "youth accounts." The policy may also differ between branches, so if one location says no, another location of the same bank might say yes.

What you need to bring to open an account

For a minor opening a custodial or joint account, bring:

  • The parent or guardian's government-issued photo ID (driver's license or state ID)
  • Proof of the parent's address (utility bill, lease, or mortgage statement)
  • The parent's Social Security number
  • The child's Social Security number (or the bank can issue an Individual Taxpayer Identification Number if the child does not have one)

For an adult opening an account at 18 or older, bring:

  • Your government-issued photo ID
  • Proof of your address
  • Your Social Security number

Some banks accept online applications and will mail you a debit card, while others require you to visit a branch. Call ahead or check the bank's website to see what method they offer.

Special situations: no Social Security number or no ID

If you do not have a Social Security number, you can request an Individual Taxpayer Identification Number (ITIN) from the IRS. This takes several weeks, so plan ahead. Some banks will open an account while you are waiting for an ITIN, but most require a number before they complete the process.

If you do not have a government-issued photo ID, some banks will accept other forms of identification, such as a school ID, passport, or tribal ID. Call your bank to ask what they accept. If you are a minor and your parent does not have an ID, you will need to obtain one before opening a custodial account — the bank requires the adult's identification, not the child's.

Frequently Asked Questions

Can a 10-year-old have their own bank account?

A 10-year-old cannot have an account in their own name, but they can have a custodial account with a parent or guardian as the owner. The parent controls the account legally, though they can give the child a debit card and let them use it with limits. When the child turns 18, the account transfers to their name.

What's the difference between a custodial account and a joint account?

In a custodial account, the parent is the legal owner and the child's name may not appear on the account at all. In a joint account, both names are on it and both people have equal legal access to the money. Custodial accounts give parents more control; joint accounts are simpler but give the child full access to withdraw funds.

Do I need my parent's permission to open an account at 18?

No. At 18, you are a legal adult and can open a bank account on your own without a parent's involvement. You only need your ID, proof of address, and Social Security number. Your parent does not need to be present or give permission.

What if my bank says I'm too young for a teen account?

Different banks have different age policies. If one bank says no, try another bank in your area — they may have a lower minimum age. You can also ask the bank if they offer any other account type for minors, or ask your parent to open a regular savings account in their name that you can use.

Can I move my custodial account to a different bank after I turn 18?

Yes. Once the account is in your name, you can transfer the money to a new bank or close it entirely. You do not need your parent's permission. Contact your new bank about how to transfer the balance — they can usually do it electronically, though it may take a few business days.